German automaker Mercedes Benz said this week that it would wind down car production in Brazil, shutting down its small factory dedicated to producing luxury vehicles in the city of Iraccemapolis, costing some 370 jobs.
German automaker Daimler AG plans to build Mercedes Benz-branded heavy trucks in China by revamping truck plants owned by its local joint venture. The plan will deepen the alliance between Daimler and its Chinese truck JV partner, Beiqi Foton, and comes after the purchase of a 5 percent stake in Daimler last month by its Mercedes Benz passenger car partner, Beijing Automotive (BAIC), Foton's parent group.
Mercedes Benz's Brazil operation will hire some 600 contractors in 2019 on year-long contracts to work on commercial vehicles, adding to a workforce of 10,000, the company said on Tuesday.
Daimler, the German car maker that owns Mercedes-Benz, will be run by a non-German for the first time next year. Dieter Zetsche, 65, will be replaced by Ola Kaellenius, a 49-year-old Swede, as chief executive in a succession plan announced on Wednesday.
Li Shufu, chairman of Chinese carmaker Geely, is making waves in the global auto market after buying a US$ 9 billion stake in Germany’s Daimler. Li, 54, the son of a farmer from China’s Zhejiang province, has led a major acquisition push globally since 2010, when he took over Swedish car brand Volvo from Ford Motor, US$ 1.8 billion deal.